Hyundai Motor America has acquired a three-story commercial building at 500 West 14th Street in Manhattan’s Meatpacking District with plans to expand its presence in New York City. The existing building features a nondescript brick façade and occupies an entire wedge-shaped block.
Cushman & Wakefield represented Hyundai in the acquisition, which closed at $22.5 million, or about $3,340 per square foot.
“The Meatpacking District remains resilient, as record pricing was established on a price per square foot and per ZFA basis,” said Brock Emmetsberger, senior managing director at B6 Real Estate Advisors in a public announcement of the sale. “We were quite confident that the right buyer, coupled with the perfect use, would place a premium on irreplaceable location that had not traded hands in over 53 years.”
Hyundai will likely renovate or fully replace the existing building, but has not yet filed any plans with the New York City Department of Buildings.
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Showroom perhaps?
The area has become the Electric Car Capitol of New York with Tesla, Rivian, Lucid, Genisis and Mecedes all having showrooms or having temporary presense in the Meat Packing district.
Spelling: Mercedes and Genesis
Aye. Another car dealership.
Used to hang out in the basement there in the early 80s.
It’s looks so cute sitting at that corner… little does it know, it will end up in a landfill? 😔
Site of Hellfire, the after hours basement sex club & bar.
No, this was The Anvil!
Please, before this thread dies, do tell, do tell us more!
Yes the Anvil and where Al Pacino was tied up naked in a room above in the “Hotel ” in the movie Cruising – I went to The Anvil a few times in the late 70’s starting when I was 16 years old visiting from Canada
This building is further west at the West Side Highway… It has been an hourly hotel for decades… featured in the the late 70s movie “Cruising” featuring Al Pacino.
Hyundai’s luxury car brand has Genesis House immediately next door to this property already – they’re looking to compete with MB, BMW, Audi, even Rolls/Bentley by creating a lifestyle brand focused not just on cars but on other ultra high end experiences. Wouldn’t surprise me if they open a hotel or residential component to match some of their rivals who are diving into this space or were looking for a permanent home for Genesis House? 🤷♂️